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Petroteq Energy Inc V.PQE.H

Alternate Symbol(s):  PQEFF

Petroteq Energy Inc. is a clean technology company. The Company is focused on the development, implementation and licensing of a patented, environmentally safe and sustainable technology for the extraction and reclamation of heavy oil and bitumen from oil sands and mineable oil deposits. The Company's subsidiary, Petroteq Energy CA Inc. (PCA), is engaged in the business of exploring for, extracting and producing oil and hydrocarbon products from oil sands deposits and sediments located in the Asphalt Ridge area of Uintah County, Utah. The Company specializes in oil production with ancillary offerings in mining and sand remediation. The Company's clean oil recovery technology (CORT) is used at its Asphalt Ridge Plant to extract and produce crude oil from oil sands utilizing a closed-loop solvent-based extraction system.


TSXV:PQE.H - Post by User

Comment by ScarletSpideron Mar 27, 2023 5:54am
271 Views
Post# 35361762

RE:RE:RE:This stock finished.

RE:RE:RE:This stock finished.I don't even know how it even got to this point. One of the main reasons the thing fell apart was that the potential buyout would be a threat to US National security interest given Viston is an overseas entity as to what people were posting. To try to get around this the company may have tried to have a different buyer listed on the documents that would be acceptable but the buyer as to what some posted was not named or clear. Some speculated that either Cantone or the company would be named as a front for Viston but even so unless it is a US body this would end up in failure. The company should have known better and flat out said due to US regulations no foreign suitor can tender a bid friendly or otherwise so ultimately i would blame the company they need to know the conditions in which they are permitted to work in the US and should have known that due to national interests they can not entertain foreign offers. Now if people don't care they will also blame the US Government. Cantone is someone who holds huge numbers of shares makes his money buying and reselling shares and is an insider as to my recollection. At the end of the day, there were bad mistakes made which really should not have been. Is this a scandal well if people are correct in what they posted about the company trying to go around US laws to get Viston to ultimately gain control yes that is a scandal but the transaction was rejected so that is really not an issue. The fact is I don't think many people like the .71 offer but I don't know what management or insiders felt and at this point calling this a scandal is quite irrelevant given it failed. Having said this as I commented this is far from over given that the tech has been proven to work in limited scale and time. I do believe it can work on a larger scale to ramped up capacities. The big problem right now is getting the books in order and then finally get moving on consolidating shares. Nobody will want to touch a 1.5 billion fully diluted company without very strong revenues so it is not likely or beneficially to try to raise 18 million or whatever it is at a nickel regardless of even Catone would be good to go unless people see value and the only way that happens insiders keep buying up shares and selling at higher prices and have retail see any value in them but at this amount I can't see it being worth more than .10 .15...sure if the goal is TSX main try to get shares to a dime consolidate 20 or 40 to 1. From there to uplift to Nasdaq the shares would need to hit $5 in any case a consolidation is needed or it will not draw much interest and retailers will only see .15 best is my guess. I bought in at .08 and given the .71 was a low ball offer to me I would love to see no less than $1 share price preconsolidation but given what I said not likely then no less than the inevitable proportioned consolidation. 20 to 1 $20 40 to 1 $40. I do strongly believe there is this potential but the company should stop wasting time better to consolidate do a raise and get the big guys interested it won't do anything much unless that happens but if they still trade low sure it may be worthwhile to add more as post consolidation I see excellent future value potential. Now if there was no proven limited run tech I would say forget it this is done that is the only saving grace and what drew Viston to start with. This will require patience like I said this is not done by a long shot not unless the main players want to call it quits and there is no reason or indication for that so we wait. Stock shares in oil and gas are getting heavily shorted anyways huge supply chain issues and the most productive month I would gather is summer time for drilling and operations so who knows maybe these guys get things going in the coming month or May shouldn't go longer than may they posted needing to adapt their financial Jan 6th if I am remembering expected to have things fixed by March 1 we are now nearly April that's quite some time. It really shouldn't be much longer. Who knows maybe there will be an update with the new expected date the company out of courtesy should have already given it given we are nearly 4 weeks later than the March 1 expected filing date. I don't doubt things will start back up the only question is when.
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